SalMar already owned 41.95 percent of Arnarlax's shares and with this transaction it now increased its stake to 54.23 percent
SalMar provides details on Arnalax shares purchase and its strategy in Iceland
NORWAY
Friday, February 22, 2019, 23:50 (GMT + 9)
In accordance with the Oslo Stock Exchange requirements, SalMar ASA has provided more details on the shares purchase in Arnarlax, a strategic operation to further develop the Icelandic company and salmon farming in Iceland.
Salmar HQ office in Kverva (Norway)
Last February 14, SalMar announced that it had reached an agreement to buy 3,268,670 shares in Arnarlax, the largest salmon producer in Iceland, based in the Western Fjords.
The agreed price was NOK 55 (USD 6.4) per share, totaling a NOK 180 million (USD 20.9 million) purchase.
The rough winter conditions and low temperatures create the perfect settings for healthy natural salmon in the clear waters of the Icelandic Westfjords.
SalMar explained it purchased 1,026,418 shares from Tryggingamiðstöðin hf. and 2,242,252 shares from Fiskisund ehf.
Arnalax was incorporated in 2009 on Iceland, and it first harvested in 2016. It is vertically integrated with its own hatcheries, sea sites, wellboat, processing plant and sales channel.
The Arnarlax operation is located in the rural area of the southern Icelandic Westfjords, a part of the country renowned for its heritage in fishing and seafood processing
SalMar already owns 41.95 percent of the shares in Arnarlax and, under this purchase, it will increase its ownership to 54.23 percent. SalMar will gain control of Arnarlax through its ownership and the results from Arnarlax will be consolidated into SalMar's group accounts.
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